Australia seeks input on cryptocurrency

Australia has launched a consultation about the tax treatment of cryptocurrencies.

The Australian Tax Office (ATO) said that it had previously published cryptocurrency advice, but that increased interested from the public has resulted in a growing number of queries about how to approach certain tax events. Earlier this month, the ATO therefore updated its web guidance on the tax treatment of cryptocurrencies. This consultation, which was timed to coincide with the update to the ATO website, aims to address some of the most common enquiries about cryptocurrency transactions.